Domain partners with RusNano on drug production in Russia
Russian state nanotechnology corporation RusNano and Domain Associates, a US venture fund, are to invest $380 million each in the development and production of next-generation medicines in Russia in 2012-2015, said RusNano, reported by RIA Novosti.
The two companies – which last year announced plans for a joint venture for the production of innovative drugs in Russia (The Pharma Letter July 25, 2011) - will invest in about 20 firms that develop drugs to fight cancer, heart and infectious diseases, including hepatitis and HIV.
The partners will also build a $190 million production facility in Russia and plan to launch it in 2015. The plant will produce over 200 million pills or 20 million packages per year.
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